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Tuesday, June 18, 2024

Vietnam’s aqua-product export target obtainable

The Saigon Times

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HCMC – Aqua-product exports in the fourth quarter this year are expected to reach US$2.4 billion, contributing to meeting the full-year target of US$9 billion, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

VASEP said that following a sharp drop in the first half of the year, the decline in aqua-product exports has slowed since June.

In September alone, aqua-product export revenues were only 5% lower than in the same period last year.

Exports of three major aqua-products in the third quarter, including shrimp, pangasius fish and tuna, showed a better recovery than in the previous quarters.

Meanwhile, sea crab export revenue from June to September grew 1.5-fold compared to the previous quarter, and increased by 2% over the year-ago period.

Though the total revenue of aqua-product exports in the third quarter fell by 12% against last year, the figure showed the slowest decline compared to the two previous quarters of the year.

Among major export markets, the Middle East has emerged as one of Vietnam’s largest buyers over the past two years, amid global economic and geopolitical uncertainties.

VASEP forecast that the recovery of Vietnamese aqua-product exports in the fourth quarter will rely as much on the recovery of two major export markets, including the U.S. and China, in the upcoming period.

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